Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
HOWARD J TIMOTHY
   2. Issuer Name and Ticker or Trading Symbol
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE [FNM] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP & Chief Financial Officer
(Last)
(First)
(Middle)
FANNIE MAE, 3900 WISCONSIN AVENUE, NW		 3. Date of Earliest Transaction (Month/Day/Year)
01/08/2003
(Street)

WASHINGTON, DC 20016		 4. If Amendment, Date Original Filed(Month/Day/Year)
05/15/2003		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 01/08/2003   S(1)   4,624 D $ 68.685 16,673 D  
Common Stock 01/08/2003   J(2)   8,895 D $ 0 7,778 D  
Common Stock 01/08/2003   J(2)   8,895 A $ 0 151,163 I Timothy Howard Revocable Trust
Common Stock 01/15/2003   S(1)   470 D $ 69.285 7,308 D  
Common Stock 01/15/2003   J(2)   965 D $ 0 6,368 (3) D  
Common Stock 01/15/2003   J(2)   965 A $ 0 152,128 I Timothy Howard Revocable Trust
Common Stock 01/21/2003   A   29,348 A $ 0 35,716 D  
Common Stock 01/21/2003   S(1)   5,019 D $ 69.43 30,697 D  
Common Stock 01/21/2003   J(2)   9,655 D $ 0 21,042 D  
Common Stock 01/21/2003   J(2)   9,655 A $ 0 161,783 I Timothy Howard Revocable Trust

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) $ 69.43 01/21/2003   A   81,661     (4) 01/12/2013 Common Stock 81,661 $ 0 81,661 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HOWARD J TIMOTHY
FANNIE MAE
3900 WISCONSIN AVENUE, NW
WASHINGTON, DC 20016		       EVP & Chief Financial Officer  

Signatures

 /s/ Timothy Howard   01/12/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The reported transaction represents a disposition to the issuer of shares to pay tax withholding liability.
(2) Shares were transferred to revocable trust.
(3) End-of-period holdings include 25 shares acquired pursuant to dividend reinvestment.
(4) The option vests ratably in four installments beginning on the first anniversary of the grant date.
 
Remarks:
This Form 4 is being amended to report transactions that occurred prior to the issuer's initial registration with the SEC and that were inadvertently omitted from the original Form 4. The transactions were reported on "Statements of Changes in Beneficial Ownership" that were posted on the issuer's website shortly after they occurred.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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